The idea that the Obama administration has the budget deficit under control is a complete and total lie. According to the U.S.
U.S. consumers have made a lot of progress in paring down the extreme debt loads that helped make the 2008 financial crisis such an epochal disaster.
Carrying tens of thousands of dollars in student loan debt has become the new normal. Thanks to climbing tuition and inadequate college savings, 40 million Americans now have at least one outstanding student loan, according to new analysis from credit bureau Experian. That’s up from 29 million consumers in 2008.
For the first time in the nation’s history, foreign interests now own more than $6 trillion in U.S. government debt, according to the most recent Treasury Department report on major foreign holders of the debt, which includes the numbers through the end of June.
Student debt becoming a larger albatross for economic growth: $1.2 trillion in student debt is outstanding and many college graduates working in jobs that don’t require their degree
There was a time when going to college made sense in every feasible way. It made sense professionally, economically, and many college graduates have a wonderful time in the process of completing their degrees. Most would argue that learning is vital in growing and moving forward.
Last year, $415,688,781,248.40 that had been forcibly extracted from American taxpayers was transferred into other hands. Most of it ended up in the pockets of the global elite. So what did the American […]
Derivatives that helped inflate the 2007 credit bubble are being remade for a new generation. JPMorgan Chase & Co. is offering a swap contract tied to a speculative-grade loan index that makes […]
US is Bankrupt: $89.5 Trillion in US Liabilities vs. $82 Trillion in Household Net Worth & The Gap is Growing
There are many ways to look at the United States government debt, obligations, and assets. Liabilities include Treasury debt held by the public or more broadly total Treasury debt outstanding. There’s unfunded […]
The total federal debt of the U.S. government has now increased more than $7 trillion during the slightly more than five and a half years Barack Obama has been president. That is […]
America’s love affair with debt is starting to be a problem. Consider: Average total debt per American with a credit file stood, in September 2013, at $37,952 in mortgage debt and $15,898 […]
Financial markets went into a tailspin Thursday after Argentina defaulted on its debt, raising fears among skittish investors already fretting over weak corporate earnings growth, rising interest rates and an aging bull […]
Like so many other things in popular American culture, this quaint notion of a “middle class” in the U.S. is at this point nothing more than a myth; a rapidly fading fantasy […]
Did you know that 77 million Americans have unpaid debts that are “in collections” and that Congress is actually thinking about letting post offices offer payday loans? We live in a country […]
A study by the Urban Institute shows that more than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies. These consumers fall behind on credit […]
A month ago we explained why ordinary margin debt (such as that tracked by the NYSE) is largely irrelevant as it completely ignores the leverage of the largest investor class (aside from […]
The global economy is structured to systematically funnel wealth to the very top of the pyramid, and this centralization of global wealth is accelerating with each passing year. According to the United […]
The China-US sorpasso is looming. I do not mean the much-exaggerated moment when China’s GDP will overtake America’s GDP – which may not happen in the lifetime of anybody reading this blog […]
Rodney Durham stopped working in 1991, declared bankruptcy and lives on Social Security. Nonetheless, Wells Fargo lent him $15,197 to buy a used Mitsubishi sedan. ”I am not sure how I got […]
China faces what would be the second default in the nation’s onshore bond market after a builder said it may fail to make a payment next week, the latest sign of stress […]
Even if the economy were growing at a faster pace, it wouldn’t come close to offsetting the interest payments on our ever-expanding debt. If you want to know why the Status Quo […]
Is there any doubt that we are living in a bubble economy? At this moment in the United States we are simultaneously experiencing a stock market bubble, a government debt bubble, a […]
What is the Federal Reserve system? How did it come into existence? Is it part of the federal government? How does it create money? Why is the public kept in the dark […]
Happy Independence Day… But, then again, are we really that independent? Would the Founding Fathers look at us and be proud, or would they bow their heads in sorrow at what our […]
Today is the day that Paul Singer and his Elliot Capital Management team have been waiting for. Thanks to SCOTUS’ decision, as Bloomberg reports, Argentina is poised to miss a bond payment […]
The US Congressional Budget Office is projecting a continued economic recovery. So why look down the road – say, to 2017 – and worry? Here’s why: because the debt held by American […]
Chinese companies borrow more than their American counterparts as the world’s second-largest economy takes center stage in corporate-debt markets. Borrowers from China had $14.2 trillion in debt at the end of last […]
Since President Barack Obama took office in January 2009, the cumulative outstanding balance on federal direct student loans has jumped 517.4 percent. The balance currently owed is $739,641,000,000.00. Back in January 2009, […]
Foreign buyers of U.S. Treasury securities increased their holdings in April to another record high even though China cut back on its holdings for a third straight month. The Treasury Department reported […]
What would you say if I told you that Americans are nearly 60 TRILLION dollars in debt? Well, it is true. When you total up all forms of debt including government debt, […]
The most important news from all over the globe…. A tsunami warning was issued for New Zealand after a magnitude 7.8 earthquake struck in the Pacific Ocean off the north coast of […]
The latest from The Most Important News…. A magnitude-6.7 earthquake rattled northeast Japan early Thursday in the same area where a massive quake triggered a deadly tsunami in March, but there were […]